Beowulf and the Dragon.  J. R. Skelton's illustration in the children's book Stories of Beowulf (H. E. Marshall). Published in New York in 1908 by E. P. Dutton & Company. 
Source: Wikipedia

The picture is in color, mostly shades of blue and yellow, but faded.

On the right, the dragon, whose head resembles an alligator, breathes out fire that splashes across Beowulf's upheld shield.  Only the dragon's head and one clawed arm can be seen.

On the left, Beowulf stands protecting himself from the dragon's fire.  Beowulf wears a gold colored helmet.  His left arm is extended through the links of the shield.  In his right hand, held ready, is a broad sword.  Beowulf has a long white beard and wears a short sleeved tunic belted at the waist.  A golden wrist band can be seen on his right arm.  He wears leather shoes laced crisscross to his knees.

On the right, below the dragon, can be seen the open mouth of the dragon's cave.